Forex Analysis: USD/JPY Classic Technical Report 12.12.2012
Prices are testing above resistance is at 82.61, the 100%Fibonacci expansion. A confirmed break higher on a close above this boundary targets the 123.6% level at 84.33. Pending a completed breakout, near-term support remains at 81.78, the 76.4% expansion. A drop below that eyes the 61.8% mark at 81.26.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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